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1098 T Form for School

1098 T Form for School

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What is a W-9 tax form? What is a W-9 tax form?

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Instructions and help about 1098 T Form For School

Uplifting piano music Hi Camp;#39’m Amir from TurboT ax with some helpful information about IRS Form 1098-T. If your one of your dependents enrolled in school during the tax year, then you&#39’ll probably want to keep an eye out for a 1098-T form by January 31st. The 1098-T reports the amount of qualified education expenses paid by the student during the year. The IRS does not consider every educational expense a qualified one, so stamp;#39’s important to get that information from your 1098-T. It will also help you calculate some of theta benefits that the IRS offers, like the American Opportunity Tax Credit or the LifetimeLearning Credit. Your 1098-T form will have a lot of useful information on it, but boxes 1, 2, 5 and 7will be most important for your tax return. Box 1 reports all payments you&#39’ve made to the school for qualified educational expenses. Box 2 reports the qualified education expenses that the school bills you for, which may note the same total as box

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